Add Short-term Precision to Long-term Planning Efforts with Demand Sensing
Elevate customer service levels, reduce inventory investment and improve profitability
The ability to sense and quickly react to demand changes is a critical capability for many businesses today in the race to meet and exceed escalating customer service requirements. Companies leading the demand-driven revolution are striving to reduce latency in demand signals and approach near real-time channel sensing. Demand Sensing grew out of a broader trend toward collaborative supply chains, where insular thinking has given way to a customer-centric
view of the market: what does the customer want and when? Consumers need their supply chains to simultaneously deliver high service levels and optimized stock levels. Halo Demand Sensing is a methodology and technology for improving near-future forecasts using detailed short-term demand data. Near-future can mean hours or days, depending upon how dynamic your supply chain is.
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Advantages of Applying Demand Sensing to your Planning Process
Demand Sensing systems typically improve short-term forecasting accuracy by up to 40% compared to traditional time-series forecasting techniques.
Leverage Artificial Intelligence to create precise daily forecasts and accelerate response to events and opportunities
Using Machine Learning-based methods for forecasting, Halo Demand Sensing creates highly accurate daily forecasts to respond to real-world events. The ability to sense and quickly react to demand changes is a critical capability to meet the pressure of ever-increasing customer service requirements.
Reduce total inventory required to meet customer needs
For volatile, high-turn and short shelf-life products, Halo Demand Sensing improves inventory deployments or agile manufacturing/assembly of finished goods to support promotional demand or other short-term fulfillment needs. Accelerate cycle times, increase visibility into event and promotional activity, and receive early warnings of potential product or service issues.
Provide early warnings of potential product or service issues
Halo Demand Sensing uses downstream data to identify demand trends, provide advanced warning of product or service issues, and remove latency between the plan and what is really happening in the supply chain.
How Halo Demand Sensing Works
Learn How Halo Demand Sensing Improves the Demand Planning Process
The goal of Demand Sensing is to help planners make short-term decisions based on fresh inputs from a variety of sources. In short, Halo Demand Sensing is a forecasting solution that overcomes latency issues associated with traditional time-series forecasting methods, which assume history will repeat itself over long periods of time. Halo Demand Sensing resides within the demand planning process, using the consensus demand plan as an input.
The first step is using Machine Learning forecasting tools with pattern recognition algorithms, automated workflow, and scenario testing to monitor short-term demand. Then, using Machine Learning Artificial Intelligence to interpret a range of demand inputs such as Point of Sale (POS) scan-based data, weather data and social media data, the system senses changes to the plan and reacts by 'auto-tuning' the forecast and inventory allocations.